Skift Take
Smaller players in the expense management marketplace are gearing up to take on Concur despite Concur's commanding lead in the sector.
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Some big news in the expense management space this week, featuring a major rollup of smaller players aimed at taking down big dog Concur.
Certify, Nexonia, Tallie, and ExpenseWatch will merge after being acquired in a $125 million equity investment by K1 Investment Management, a private equity fund that targets software and technology companies.
“This deal is all about bringing the best expense management products to the most users everywhere in the world,” said Robert Neveu, CEO of Certify. “We’re now in a much stronger position to develop products and serve customers in the U.S., Canada, and internationally. I would expect us to continue growing organically and through acquisition as we move to overtake Concur as the world’s largest expense management software vendor.”
The combined organization will serve about 7,500 clients; Concur h
